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New chancellor Rishi Sunak challenged over hedge fund past

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Labour questions past City dealings citing former close associate’s participation in tax avoidance scheme

The new chancellor Rishi Sunak has been challenged by Labour to provide more details about his former career as a City hedge fund manager before entering politics.

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Following Sunak’s rapid promotion to replace Sajid Javid in the wake of the former chancellor’s dramatic resignation on Thursday, Labour said the new chancellor had questions to answer over his past career and business dealings.

Related: In wake of Brexit, EU to put Cayman Islands on tax haven blacklist

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